What Is Self-Managing Landlord?

The Self-Management Decision

There is no universal right answer on whether to self-manage or hire a PM company. It depends on your portfolio size, your available time, your skills, and honestly, your personality. Some people love the hands-on nature of managing their own properties. Others find it stressful and time-consuming.

Here is the honest truth: self-managing 1-10 units is very doable for most people, even with a full-time job. Self-managing 10-20 units starts to feel like a second job. Beyond 20, you are either doing this full-time or your quality of management is suffering.

The financial incentive is real. On a 10-unit portfolio averaging $1,400/month per unit, a property manager at 10% costs you $16,800/year in management fees alone. That is money going straight from your tenants' pockets to someone else instead of staying in yours.

What Self-Managing Actually Looks Like

Here is a realistic breakdown of the time commitment:

Monthly (recurring): Rent collection and tracking (30 min), communication with tenants (30-60 min), bookkeeping and financial tracking (30 min), driving to properties for issues (varies). Total: 2-4 hours/month for a calm month.

As needed: Maintenance requests (1-2 hours each including coordination), showing vacant units (2-3 hours per showing weekend), tenant screening and applications (2-3 hours per vacancy), lease renewals (30 min each), inspections (1 hour per unit).

Turnovers: This is the big time suck. A unit turnover involves move-out inspection, deposit processing, coordinating repairs and cleaning, listing the unit, showings, screening, and move-in. Budget 15-25 hours per turnover spread over 2-4 weeks.

For a stable 8-unit portfolio with 1-2 turnovers per year, expect 5-10 hours per month on average. Some months it is 2 hours. Turnover months it is 30+.

Essential Tools for Self-Managing Landlords

Spreadsheet for financials. Google Sheets or Excel for your rent roll, payment tracking, expense tracking, and ROI calculations. This is your financial command center. See our guide on managing rental properties with spreadsheets.

Payment collection platform. Zelle, Venmo for Business, or a tenant payment portal. Get tenants on autopay wherever possible.

Maintenance tracking system. Whether it is a spreadsheet tab, a simple app, or email, you need a way to log requests, track progress, and document completed repairs. Check out a simple maintenance tracking system.

Contractor network. A reliable plumber, electrician, HVAC tech, handyman, and cleaner. Build these relationships before you need them. Getting emergency quotes is always more expensive than calling your regular guy.

File storage. Digital copies of every lease, inspection report, receipt, and communication. Google Drive, Dropbox, or any cloud storage. Organize by property and tenant.

Real Example: Self-Management Savings

Portfolio: 6 units, average rent $1,400/month, total $8,400/month ($100,800/year).

With a PM company at 10%: $10,080/year in management fees, plus $1,000/unit tenant placement fee x 1.5 turnovers = $1,500. Total PM cost: $11,580/year.

Self-managing: your time (roughly 8 hours/month average = 96 hours/year). $11,580 saved ÷ 96 hours = $120.63/hour for your time. Even if you value your time at $75/hour, self-managing comes out ahead by $4,380/year.

Plus, you have direct control over tenant selection, maintenance quality, and every decision that affects your investment. Many landlords find that the control is worth as much as the money saved.

Common Mistakes Self-Managing Landlords Make

No systems. Winging it works for 1-2 units. It falls apart fast with 5+. Create processes for everything: screening, rent collection, maintenance, move-in, move-out. Write them down so you follow them consistently.

Being too available. Setting boundaries is essential. Give tenants a way to submit maintenance requests in writing (email, text, portal) instead of calling you. Define "office hours" for non-emergencies. You are a business, not a 24/7 hotline.

Deferring maintenance. Self-managing landlords often delay repairs to save money. This backfires. A $200 repair ignored becomes a $2,000 problem. Stay on top of preventive maintenance and address issues promptly.

Not treating it like a business. Keeping separate bank accounts, tracking every expense, having proper insurance, and following the law. These are not optional. They protect your investment and keep you out of legal trouble.

Never taking a vacation. Have a backup person (a friend, fellow landlord, or on-call handyman) who can handle emergencies when you are away. Burnout is real and it leads to poor decisions.

Frequently Asked Questions

When should I stop self-managing and hire a PM company?

Consider switching when the time spent managing exceeds the money saved, when property quality is declining because you cannot keep up, or when it is affecting your health or relationships. Read our deep dive on how many units before you need a property manager.

Can I self-manage out-of-state properties?

It is possible but challenging. You need excellent local contractors, a reliable point person for emergencies, and strong digital systems for communication and tracking. Many out-of-state landlords self-manage financially while hiring a local handyman for on-the-ground work.

What skills do I need to self-manage?

Organization, basic financial tracking, communication skills, a working knowledge of landlord-tenant law, and the ability to coordinate contractors. You do not need to be a plumber or electrician. You need to be a manager.